Crypto News

Japanese local exchanges stop the trade of Zcash, Monero and others, here’s why

It is reported that Japanese local exchanges was required to stop trading Monero (XMR), Zcash(ZEC) and Dash (DASH) from Japan regulators, US Securities and Exchange Commission (SEC).
Crypto currency zcash

The authorities frequently pressure the exchanges to give up XMR, ZEC, DASH, etc., in order to prevent money laundering and other criminal activities.

Cryptocurrencies like Monero, Zcash, Dash, their anonymity will be the best money laundering choice for offenders. Bitcoins that could easily be tracked on the public chain in the past now can be easily used to demand ransoms or sale illegal items through the appearance of anonymous tokens.

According to the Trustnodes report, hackers or criminal activities may mainly use the BTC-XMR-BTC conversion to confuse the relationship between address. In this case, the ban may not be very effective, so asking the exchange for AML/KYC may be more effective.

Currently, Monero, Zcash, and Dash can be traded legally in Japan, but they may be banned in the future, or the FSA may pressures the relevant exchanges for effectively stopping transaction.

Here is most people concern about the coin price:

Dash price on May 5 now is $488.80, down 1.16% against to American dollars. Dash market cap has a total value of $3,936,425,351, 24 hours trading volume has $ 141,523,000.

Zcash price on May 5 now is $304.67, rise 0.86% against to American dollars, has a market value of $1,172,307,203, 24 hours trading volume is $61,407,600.

Monero price on May 5 now is $244.03, rise 0.45% against to American dollars, with a total markey cap of $3,904,283,590, 24 hours trading volume is $78,698,700.


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